Last month, Midtown Detroit Inc. Director Sue Mosey told a
meeting of Detroit Young Professionals about several projects in the works to
help ease a demand for apartments and homes in a neighborhood that is at a 97
percent occupancy rate.

She confirmed to MLive the latest status of these projects:

At the corner of Woodward and Willis, where there is
currently vacant land, Midtown Detroit Inc. is helping to develop a 3-story,
mixed-use property. "That's something we're going to be announcing
soon," Mosey said.

At the Forest Arms building (see gallery), which burned
three years ago, the group now has term sheets from a bank, and another
financing agency. "We think we'll actually be able to break ground for the
construction early next year," Mosey said. They're going to renovate the
entire building at the cost of about $10 million, and bring about 75 units
online.

"We did buy that about six months ago," Mosey
said. "That building had been through at least five developers in the last
five years, and not one could figure out how to get that done, because you need
a hoard of subsidy to do it. So it's a $32 million project, I have $29 million
raised, I still have $3 million more I got to raise, but we're going to do 129
units of rental housing, and 5,000 square feet of commercial space. "